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Hire Purchase
You have an agreed regular payment for the solution and after the term, the assets can be purchased with an ‘Option to Purchase’ fee and full ownership transferred to you.
Some of the benefits:
- You will have the option to own the assets outright after the ‘Option to Purchase’ fee at the end of the payment plan.
- As VAT is paid upfront, the rental payments are not subject to additional VAT.
Operating Lease
Getting the best out of the newest technology now over an agreed term, in exchange for regular rental payments. After the period, simply return the assets for a new solution or retain them for an extension.
Some of the benefits:
- Lower rental costs than finance lease.
- Removes risk of depreciation as assets can be swapped for newer technology after term.
Finance Lease
Like the Operating Lease, however there is the added option to transfer ownership of the assets for a fair market value after the agreed term.
Some of the benefits:
- Finance for 100% of the purchase price.
- Payment structure agreed at the outset for easy budgeting.